Governor of the People's Bank of China Pan Gongsheng Photo: VCG

China will persist in opening up to the outside world, firmly support the rules of free trade and multilateral trading system, promote inclusive economic globalization while safeguarding global economic and financial stability, Governor of the People's Bank of China Pan Gongsheng said on Wednesday during the G20 finance ministers and central bank governors meeting in Washington, the US, China Media Group reported.

Pan said the global economy is grappling with heightened uncertainty as increasing economic fragmentation and escalating trade tensions disrupt industrial and supply chains, fuel financial market volatility and undermine growth momentum. He also called for enhanced international cooperation to prevent the global economy from veering toward a trajectory of high friction and low trust.

Trade and tariff wars yield no winners, and unilateralism and protectionism offer no viable path forward, serving the interests of no one, Pan said.

Global Times